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Ely, Attorney
Category: Business Law
Satisfied Customers: 102162
Experience:  Counselor at Law.
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If I am establishing an S-Corp and using my home address

Customer Question

If I am establishing an S-Corp and using my home address while this link my personal property/estate to the corporation liability?
Submitted: 1 year ago.
Category: Business Law
Expert:  Ely replied 1 year ago.

Hello and welcome to JustAnswer. Please note:This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

Possibly, yes. You know, I am guessing, about limited liability protection a Corporation offers. You may also know about piercing the corporate veil. See HERE. If a corporation is used as a shell, underfunded, has its accounts mixed with personal accounts, or the documents are not properly filed as needed, the corporate shell may be pierced and the person behind the corporation may be help personally liable.

This is on a case by case basis, and is subjective. To avoid an appearance of using the corporation as a shell, most people prefer to have their corporate address somewhere else rather than their private home. This is not mandatory, but is preferred. If the corporation becomes liable for something and the claimant tries to pierce the corporate veil, the address maybe used as an argument to further that.

Ergo, if possible, it is best to use a different address.

I hope this helps and clarifies. Please use the SEND or REPLY button to keep chatting, or please RATE when finished. You may always ask follow ups at no charge after rating. Kindly rate my answer as one of TOP THREE FACES/STARS and then SUBMIT, as this is how experts get credit for our time. Rating my answer the bottom two faces/stars (or failing to submit the rating) does not give me credit and reflects poorly on me, even if my answer is correct. I work very hard to formulate an informative and honest answer for you; please reciprocate my good faith with a positive rating.

Expert:  Ely replied 1 year ago.
Hello again. This is a courtesy check in to see if you needed anything else in regards ***** ***** question because you never rated positively. I am simply touching base. Let me know. Thanks!